Trump Signs Act Authorizing 100% Tariffs on Russian Oil Buyers

President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on September 18. The legislation targets Russian leadership, financial institutions, and the shadow fleet of tankers used to evade energy export bans. It grants the president discretionary authority to impose tariffs of up to 100% on the five largest importers of Russian oil and gas, specifically putting countries like India and China at risk. The law also extends sanctions on Iran's weapons and energy sectors through 2031 and authorizes tariffs of up to 500% on Russian goods entering the U.S.

Ukrainian President Volodymyr Zelenskyy welcomed the act as a tool to deprive the Russian war machine of resources. Conversely, the Russian government labeled the measures unfriendly actions, with Deputy Chairman of the Security Council Dmitry Medvedev calling the law a Russophobic abomination and advocating for military deterrence. China condemned the act as long-arm jurisdiction lacking a basis in international law.

India faces a strategic dilemma as Russian crude accounts for a significant portion of its imports. The Government of India warned that the tariffs could disrupt global energy markets and damage bilateral ties with Washington. While Indian oil refiners have begun reducing Russian purchases, Trade Minister Piyush Goyal stated that New Delhi is studying the details of the law. India maintains that its energy sourcing is guided by national interest and the security of its 1.4 billion people.